What's a typical lease term in Indianapolis?

10 years for institutional Class A. Shorter terms are achievable on smaller floor plates with stronger covenants.

How is rent quoted in Indianapolis?

In USD/sqft/year. We also publish a USD-normalised view ($26/sqft/yr) for cross-market comparison.

Modified-gross structures.

Typical lease length: 10 years.
Typical rent-free: 12 months.
Vacancy: 19.2%; trend flat.
Modified-gross structures.

Indianapolis office lease norms

Modified-gross structures.

TL;DR

Typical lease length: 10 years.
Typical rent-free: 12 months.
Vacancy: 19.2%; trend flat.
Modified-gross structures.

Structure

Modified-gross structures. 10-year terms standard. Free rent of 10-14 months and TI of $70-$100/sqft typical on a 10-year Class A deal.

Negotiating levers

Free rent and TI remain the most negotiable line items; landlords prefer concessions to face-rent cuts because they preserve headline rent and implied valuation. Always model effective rent (face minus PV of concessions).

Key facts

city	Indianapolis
country	United States
region	Americas
classARentLocal	26 USD/sqft/yr
classARentUsd	$26/sqft/yr
vacancy	19.2%
typicalLeaseYears	10
typicalRentFreeMonths	12
submarkets	5
primeYieldPct	7.4%

Frequently asked questions

What's a typical lease term in Indianapolis?: 10 years for institutional Class A. Shorter terms are achievable on smaller floor plates with stronger covenants.
How is rent quoted in Indianapolis?: In USD/sqft/year. We also publish a USD-normalised view ($26/sqft/yr) for cross-market comparison.

Editorial provenance

Reviewed by Class A Atlas Editorial Desk — House byline · global editorial team. Last updated 2026-04-15. See our methodology and editorial standards.

Primary sources for this page

CBRE Marketview reports — CBRE
JLL Office Insight — JLL
Cushman & Wakefield Marketbeat — Cushman & Wakefield
Savills World Research — Savills
Colliers Global Office Outlook — Colliers

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